Italian town Filettino declares independence from IMF and prints its own money

 

A small town in central Italy has declared its independence and started to print its own banknotes.

The authorities in Filettino, 100km (70 miles) east of Rome, are protesting against austerity measures.

 

It has only 550 inhabitants and under new rules aimed at cutting local administration costs it will be forced to merge with neighbouring Trevi.

 


more

 

 

Alessia Pierdomenico / Reuters
Alessia Pierdomenico / Reuters
A photo illustration of Filettino's own bank currency, the "Fiorito," bearing the image of its mayor, Luca Sellari.

If you’re a small-town mayor unhappy with your national government, there’s one thing you can do: declare independence and start issuing currency with your face on it. Just ask the mayor (or should we say, prince?) of Filettino, Italy.

 

 Italy is right in the middle of the larger sovereign debt crisis going on in Europe, which is shaking the confidence of markets across the globe. The Italian government has issued a number of austerity measures to get its books in order, including plans to merge the governments of towns with less than 1,000 people to cut costs. That’s 1,963 towns total.

 


Read more: http://moneyland.time.com/2011/08/30/italian-town-prints-its-own-cu...






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